Insurance 2

An insured must notify an insurer of a medical claim within how many days after an accident?

• 20

• 10

• 30

• 40

Kelly purchases a health insurance policy issued on a conditionally renewable basis. The insurance company has a right to refuse renewal of the policy for

• profitability reasons

• any change in Kelly's health

• any reason the insurer sees fit

• specific reasons stated in the contract

Omar is covered by a disability income policy. He is hurt while performing an occupation more hazardous than the occupation listed in his policy. The policy's change of occupation provision will have what effect?

• Reduce the benefit level

• Increase the premiums

• Increase the benefit level

• Decrease the premiums

Tim is covered by an accident and health insurance policy that may not be changed in any way by the insurer up to a stated age, as long as the premiums are paid. What type of policy is this?

• Optionally renewable

• Guaranteed renewable

• Conditionally renewable

• Noncancelable

Which of the following reduces the opportunity for over insurance?

• Coordination of benefits provision

• Conformity with state statutes

• Insuring clause

• Reduction in coverage provision

A Guaranteed Renewable provision allows

• premiums which can only be increased per rate class

• discrimination of individuals who have an increased loss experience

• cancellation of the policy at the insurer's discretion

A health insurer MUST provide a proof of loss form

• within 15 days of receipt of the notice of loss

• within 10 days of the actual loss

• within 15 days of the actual loss

• within 10 days of receipt of the notice of loss

An accident and health insurance policy's premium requirements are set forth in which of the following provisions?

• Consideration clause

• Premium mode

• Insurance clause

• Entire Contract clause

• $200

• $300

• $0

• $500

The Change of Occupation provision in a Disability Income policy states that, in the event the insured changes to a less hazardous occupation, which of the following may apply?

• Benefits can be increased in the event of a covered claim

• Premiums cannot be adjusted

• Benefits will remain the same in the event of a covered claim

• Benefits can be reduced in the event of a covered claim